ValuEngine upgraded shares of Ocean Rig UDW Inc. New (NASDAQ:ORIG) from a hold rating to a buy rating in a report issued on Thursday.

Other equities analysts also recently issued research reports about the company. Credit Suisse Group began coverage on Ocean Rig UDW Inc. New in a research report on Friday, December 15th. They set an outperform rating on the stock. BidaskClub downgraded Ocean Rig UDW Inc. New from a sell rating to a strong sell rating in a research report on Friday, March 16th. Finally, Deutsche Bank began coverage on Ocean Rig UDW Inc. New in a research report on Tuesday. They set a hold rating and a $30.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $30.00.

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Shares of Ocean Rig UDW Inc. New stock traded up $0.49 during mid-day trading on Thursday, reaching $25.85. The company’s stock had a trading volume of 16,056 shares, compared to its average volume of 162,734. The company has a current ratio of 5.38, a quick ratio of 5.38 and a debt-to-equity ratio of 0.20. Ocean Rig UDW Inc. New has a 52 week low of $20.22 and a 52 week high of $40.00.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ORIG. Goldman Sachs Group Inc. lifted its position in shares of Ocean Rig UDW Inc. New by 109.1% in the second quarter. Goldman Sachs Group Inc. now owns 650,943 shares of the oil and gas company’s stock valued at $103,000 after acquiring an additional 339,692 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in shares of Ocean Rig UDW Inc. New in the third quarter valued at approximately $1,928,000. Phoenix Investment Adviser LLC purchased a new position in shares of Ocean Rig UDW Inc. New in the third quarter valued at approximately $7,645,000. King Street Capital Management L.P. purchased a new position in shares of Ocean Rig UDW Inc. New in the third quarter valued at approximately $19,778,000. Finally, OZ Management LP purchased a new position in shares of Ocean Rig UDW Inc. New in the third quarter valued at approximately $95,676,000. Institutional investors and hedge funds own 78.66% of the company’s stock.

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Ocean Rig UDW Inc. New Company Profile

Ocean Rig UDW Inc is a Cyprus-based offshore drilling contractor that provides oilfield services for oil and gas exploration, development and production drilling, and specializes in the ultra-deepwater and harsh-environment segment of the drilling industry. The Company owns and operates approximately 13 offshore ultra deepwater drilling units, comprising of ultra deepwater semisubmersible drilling rigs and ultra deepwater drill-ships.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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